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Oct 31, 2012
10/12
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things you have to understand too with the scope of this storm every location has to deal with the environment in which they are facing. every location is going to be different than every other location. we have to face unique circumstances and manage that process as best we can. i am absolutely confident that the leadership and the folks and boots on the ground at con ed are doing everything they can do to get the power back on as safely and as expeditiously as possible. >> you mentioned unusual nature of these storms. it seems as though we have unusual storms a lot more frequently than we used to. you run one of the largest power companies in the country, is it your thought that talks of climate change will come to the fore and lead to discussions about your business? >> the point is right now we are not dedicated to getting into an argument. we have to get the power back on. that's our business at this point. we're going to get that done as fast and safely as possible. >> tom, thank you so much for coming on. of course on behalf of everybody in the northeast, thanks for the help you're prov
things you have to understand too with the scope of this storm every location has to deal with the environment in which they are facing. every location is going to be different than every other location. we have to face unique circumstances and manage that process as best we can. i am absolutely confident that the leadership and the folks and boots on the ground at con ed are doing everything they can do to get the power back on as safely and as expeditiously as possible. >> you mentioned...
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Apr 17, 2012
04/12
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part of it is the regulatory environment. part of it is responding to pressures in europe and here. >> it's been a while since we had a quarter where we went, wow, the guys at goldman sachs. they did i hafferentiated thems in a positive way. we haven't seen it in a while. does that come back to the unwillingness to take the risk they did in the past and is it a sign that things have changed? >> it may be, david. hard to say. they can blame the environment for plenty in terms of diminished returns and fewer opportunities. in commodities they said it was a low volatility quarter with fewer opportunities. they can put i that way. yes, there is a subtle change in the way they approach things. one major change in the last year or two is the fact that they separate out in fixed income and equities what's investing and lending. in other words, what are positions they might be holding onto and what are they doing on a client basis? other firms don't break it out in the same way. this is a challenge i had this morning. looking at fixe
part of it is the regulatory environment. part of it is responding to pressures in europe and here. >> it's been a while since we had a quarter where we went, wow, the guys at goldman sachs. they did i hafferentiated thems in a positive way. we haven't seen it in a while. does that come back to the unwillingness to take the risk they did in the past and is it a sign that things have changed? >> it may be, david. hard to say. they can blame the environment for plenty in terms of...
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Sep 26, 2012
09/12
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do you long for a more stimulating work environment? we don't. we're perfectly happy here. >> very happy. >> we did find one that might not cure for your cubicle fatigue. we'll find out what that is after the break. rick santelli, his cubicle is the size of the cme floor is working on the next hour of "squawk on the street." >> it is a great place to have the cubicle. you can learn a lot about a person by the company they keep and also learn a lot about politics by the investments of their base. we're going to talk about that and how it relates to private equity at the top of the hour and then at the bottom of the hour we're going to talk a little high frequency trading, algorithm trading and whether there is any significant benefits. have you two great packages today. tune in. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop mor
do you long for a more stimulating work environment? we don't. we're perfectly happy here. >> very happy. >> we did find one that might not cure for your cubicle fatigue. we'll find out what that is after the break. rick santelli, his cubicle is the size of the cme floor is working on the next hour of "squawk on the street." >> it is a great place to have the cubicle. you can learn a lot about a person by the company they keep and also learn a lot about politics by...
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Jun 18, 2012
06/12
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there is an environment in which investors don't want to take risk, but want yield. what and how do you advise them to go about constructing a portfolio that might accomplish that. >> the mantra lately has been safety in income, and the trouble is i think investors have to think about at what price? and they're getting such low yields now on traditional fixed income that i think that they should not run trickily to safety and yield, but look for something creative. it might be equities or bonds which might be some credit at risks. >> so you think perhaps equities in this environment? >> the think i like about equities is nobody likes them. you now. the most important thing is how much op mitch and affect is built into the price. right now, with regards to stocks, there's precious little. >> absolutely. >> in terms of your portfolio, you are comprised of a lot of distressed dead, private equity is a component as well. but equities don't make a big play in terms of what oak tree does. that's right, they don't. my comments are really just academ academic, not touting ou
there is an environment in which investors don't want to take risk, but want yield. what and how do you advise them to go about constructing a portfolio that might accomplish that. >> the mantra lately has been safety in income, and the trouble is i think investors have to think about at what price? and they're getting such low yields now on traditional fixed income that i think that they should not run trickily to safety and yield, but look for something creative. it might be equities or...
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Nov 1, 2012
11/12
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there are many that are saying precious metals may do well, but energy makes up in this environment. natural gas, expectations that are expected, looking at the reduced demand from hurricane sandy and they're looking at the cold weather that's upon us. we're going to have a live report with the eia. at 10:30 a.m., a delayed report for oil inventories will be up to date from the energy department at 11:00 a.m. and of course melissa will bring that live to you as well. >> you have heard success news as well. mallalay is staying. how did general motors fare last month in terms of its sales. we'll bring you its numbers, plus a live interview. and the challenges facing lower manhattan as it tries to recover from superstorm sandy. and we take a look at this morning's early movers here on wall street. at optionsxpress we're all about options trading. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you eleva
there are many that are saying precious metals may do well, but energy makes up in this environment. natural gas, expectations that are expected, looking at the reduced demand from hurricane sandy and they're looking at the cold weather that's upon us. we're going to have a live report with the eia. at 10:30 a.m., a delayed report for oil inventories will be up to date from the energy department at 11:00 a.m. and of course melissa will bring that live to you as well. >> you have heard...
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Apr 2, 2012
04/12
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eastern time so are with we in an environment debating whether there will be a qe 3, are we in an environment where good news is bad news? at the top of the hour, it was above expectations and the market actually moved slightly lower before recovering. >> right. >> i don't necessarily know if i believe that. i think there's a lot of nervousness because of the levels that we're at. i don't think the necessarily good news is bad news to go along with what you're saying. obviously mr. bernanke himself has said that he's watching employment and housing. those numbers get weighed more heavily than any of the other financial numbers that we have coming out. but the sense is that because the volume has been kind of not really, really strong, gotten a little stronger as the quarter progressed, there are many people who believe that we can go higher because it hasn't been an all in. rather than a toe-in, people are in a kneecap in the water. that's a very bullish sign as we continue higher. >> melissa, what do we expect as we progress through the week? >> and if you look at the trading last week at th
eastern time so are with we in an environment debating whether there will be a qe 3, are we in an environment where good news is bad news? at the top of the hour, it was above expectations and the market actually moved slightly lower before recovering. >> right. >> i don't necessarily know if i believe that. i think there's a lot of nervousness because of the levels that we're at. i don't think the necessarily good news is bad news to go along with what you're saying. obviously mr....
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May 31, 2012
05/12
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but i think there are places even in this environment to earn good high single digit returns even with all this volatility. >> david, talking about returns or lack thereof, look at our own ten-year, you mentioned junk market never lower. seems to be an unwillingness on the part of investor to invest given outflows we've seen. anything in your opinion going to change that. we look at stocks and dividend yields, multiples, high/low. >> 2.25%, advantage over the ten-year treasury already back to last fall's levels. back to 2011 lows. in that spirit you want to look back and say if the average stock is 15% off its 52-week high, what modifications can i make in a portfolio or trades can i make where i'm going to get opportunity, be, aerospace, 15 times earnings growing its earnings at 23%, very good cash flow. cvs on the retail drugstore side growing dividend, gaining market share from main competitor, pharmacy benefit management. ecolabs, a little safer but i think a global as well as a u.s. play, opportunities i can see in u.s. portfolios to name a few. >> let me just finish by major head
but i think there are places even in this environment to earn good high single digit returns even with all this volatility. >> david, talking about returns or lack thereof, look at our own ten-year, you mentioned junk market never lower. seems to be an unwillingness on the part of investor to invest given outflows we've seen. anything in your opinion going to change that. we look at stocks and dividend yields, multiples, high/low. >> 2.25%, advantage over the ten-year treasury...
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Apr 19, 2012
04/12
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obviously we didn't anticipate a three-year zero interest rate environment. very difficult market conditions. we've said by the middle of next year we'll be at mid teens and i think with an 11% jump this quarter good evidence and good confidence will get there. >> you know, we sat down i think about six months ago and you had indicated during that time that, by the way, in the midst of europe being a very bad situation that it would be a couple years until we got back to the so-called normal, whatever that means. do you still feel that way? >> well, i think first lit global economic macro environment is really what's driving the markets. i mean, fundamentals of individual companies even on days of earnings have very little impact plus or minus. it's the macro. we've had, even last week weerks had spain as sort of the headline, the gdp growth in china was at 8.1 versus an expected 8.3 and suddenly everybody panicked over that. very fragile environment in that regard. but i think as i look at the world the u.s. i believe is recovering better than most people th
obviously we didn't anticipate a three-year zero interest rate environment. very difficult market conditions. we've said by the middle of next year we'll be at mid teens and i think with an 11% jump this quarter good evidence and good confidence will get there. >> you know, we sat down i think about six months ago and you had indicated during that time that, by the way, in the midst of europe being a very bad situation that it would be a couple years until we got back to the so-called...
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Nov 7, 2012
11/12
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does the current environment, robert heller, change your view as to how the fed is to act? we're already getting on twitter people asking, for instance, where that out of the ether fed call, that headline hinting at possible stimulus on a day like today, is that going to happen in the next few months? >> well, the fed can't do more stimulus. they already have their foot on the gas pedal full out and with the fiscal cliff hanging over us, they will continue that course. they will try to be a center of stability. but the problem is that in the long term they are seeding the seeds of a strong inflationary push in the country and then they have the problem of rating that bank. how are they going to pull back trillions of dollars in excess reserves without causing a recession? they will cause a recession. >> but there's no doubt in your mind about that? >> yes. >> there's doubt in my mind about that. qe 2 has been adding to bank reserves but it hasn't been very stimulative because banks haven't been converting that into money and since they announced qe 3, i don't think the fed'
does the current environment, robert heller, change your view as to how the fed is to act? we're already getting on twitter people asking, for instance, where that out of the ether fed call, that headline hinting at possible stimulus on a day like today, is that going to happen in the next few months? >> well, the fed can't do more stimulus. they already have their foot on the gas pedal full out and with the fiscal cliff hanging over us, they will continue that course. they will try to be...
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Sep 13, 2012
09/12
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also, the ceo say he sees two to three years of a hard environment in europe. the attention has come off of europe, but this is a little bit of color there, so we're watching shares right now, up about three tenths of a percent. melissa. >> thanks for that. just two more hours until the fed's decision on interest rates. up next, we'll tell you how the play the dollar ahead of the big announcement. back in two. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let'
also, the ceo say he sees two to three years of a hard environment in europe. the attention has come off of europe, but this is a little bit of color there, so we're watching shares right now, up about three tenths of a percent. melissa. >> thanks for that. just two more hours until the fed's decision on interest rates. up next, we'll tell you how the play the dollar ahead of the big announcement. back in two. up your game. up the ante. and if you stumble, you get back up. up isn't easy,...
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Dec 20, 2012
12/12
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i think in the environment we are in now, where scale continues to be an imperative and both thought consolidation was inhe have jet table, why not team up and see if we can do it? >> your share holders are rewarding you you the stock is actually up. but there are questions, jeff, about your multiple given what may be sloezer growth as a result of this deal. how do you answer those? >> well, we are a growth company in the way we act and the kind of share holders that hold us. and what we see is a tremendous amount of value that's inside the new york stock exchange. us to, we are looking at equity trading that's at, you know, recent historic lows. we see a lot of money on the sidelines that's waiting to come back in once we have better policy, once we have a little more certainty in the world. we see we are in a zero interest rate environment and interest rates a big part of the trading. >> interest rates a big part of this deal in some ways why is that? >> because if you look at sort of the largest asset classes, the trade, in addition to stocks, many people don't realize that intere
i think in the environment we are in now, where scale continues to be an imperative and both thought consolidation was inhe have jet table, why not team up and see if we can do it? >> your share holders are rewarding you you the stock is actually up. but there are questions, jeff, about your multiple given what may be sloezer growth as a result of this deal. how do you answer those? >> well, we are a growth company in the way we act and the kind of share holders that hold us. and...
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Mar 19, 2012
03/12
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we're talking to some of the biggest players on wall street today about investing in a rising rate environment. managing risk and real estate, as well. see new a few minutes. now back to melissa at "squawk on the street." >> all right. the high profile case involving the owners of the mets and the trustee for bernard madoff victims not going to trial. darren has more on this story. >> thanks, melissa. the long nightmare for the mets owners is over and i'm not talking about the team. that's still on. but the madoff trustee and the mets have settled in their case, as you said. here are the details. it's $162 million is the settlement which is equal to the fictitious profit that the trustee alleged they had taken, withdrawn over six years. they won't have to cut a check until four years from now, and that's only if they don't recover that $162 million as net losers from madoff on their other business sterling equities. so from that distribution they're expected to get $178 million. the deal was negotiated by mario cuomo, arrived at on friday and announced this morning in court. the mets around th
we're talking to some of the biggest players on wall street today about investing in a rising rate environment. managing risk and real estate, as well. see new a few minutes. now back to melissa at "squawk on the street." >> all right. the high profile case involving the owners of the mets and the trustee for bernard madoff victims not going to trial. darren has more on this story. >> thanks, melissa. the long nightmare for the mets owners is over and i'm not talking about...
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Dec 26, 2012
12/12
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so much to think about, even as you're returning and using cards in this environment. thanks so much. jane wells. when we come back, find out how the fiscal cliff is affecting the euro's move higher. here's one corporate executive's view of the fiscal cliff. >> i'm the president and ceo and owner of canon safe. the fiscal cliff is going to impact me as a business owner. it makes me uncertain. it makes me wonder, should i expand? should i hire more people? do i need to lay people off? the bottom line, we're at this point in a lack of leadership. it's an embarrassment how washington is acting. i am begging somebody in washington, step up. be accountable. take responsibility. solve the root cause of these issues. get smart about your weight. >>> the graphic says it, market flash. welcome back to the program. let's look at best buy. the stock's not moving higher, but there are positive comments out there. rare positive comments from an analyst about the store upgrades. bby has been remodeling a number of stores. david chick says they are a real improvement from the old sto
so much to think about, even as you're returning and using cards in this environment. thanks so much. jane wells. when we come back, find out how the fiscal cliff is affecting the euro's move higher. here's one corporate executive's view of the fiscal cliff. >> i'm the president and ceo and owner of canon safe. the fiscal cliff is going to impact me as a business owner. it makes me uncertain. it makes me wonder, should i expand? should i hire more people? do i need to lay people off? the...
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Oct 18, 2012
10/12
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m&a not great, but what do you expect given the environment? underwriting is still okay. they're talking about a 6-ish percent return on equity. which is just wow, right? >> is it ever going to be what it ever was before? that's the whole point of dodd-frank, right? to never let that happen again. >> it's never going to be the same given capitals, leverage, or leverage rates what they were before. it certainly could be higher than 6%. could it be 12% or 13%? that's a lot to ask for, jim. >> the steel plant probably gets a better return than morgan stanley. they're not levered. they're doing business. timken may be a better story. morgan stanley still not as good as the single best quarter we saw from any bank, which remains citigroup. no accounting for ceos. he had to go. pandit had to go. it was a terrible quarter. happened to be the best banking quarter, but that's okay because we fulfilled his usefulness. time to move on to someone who's going to deliver not as good of a quarter. >> they keep bringing up this four box of the four of us, but with you in that orange, twi
m&a not great, but what do you expect given the environment? underwriting is still okay. they're talking about a 6-ish percent return on equity. which is just wow, right? >> is it ever going to be what it ever was before? that's the whole point of dodd-frank, right? to never let that happen again. >> it's never going to be the same given capitals, leverage, or leverage rates what they were before. it certainly could be higher than 6%. could it be 12% or 13%? that's a lot to ask...
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Oct 1, 2012
10/12
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back to you. >>> meantime, on the search for yield in this low-rate environment, jpmorgan's naming one sector that just might give you the fix you're looking for. let's -- let's start over from the beginning. we were just driving along, comin' back from the lake, and all of a sudden, ka-plam. it blindsided us. what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a lot of other stuff in there had the word "aggressive" in it. is everyone okay? well, now, yeah. who knows later. ♪ who knows later. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120
back to you. >>> meantime, on the search for yield in this low-rate environment, jpmorgan's naming one sector that just might give you the fix you're looking for. let's -- let's start over from the beginning. we were just driving along, comin' back from the lake, and all of a sudden, ka-plam. it blindsided us. what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a...
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Jul 18, 2012
07/12
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the world's largest chip maker citing a challenging environment. the forecast reflecting weaker sales and growing popularity of tablets and other devices that don't use intel chips and reporting second quarter revenues slightly below wall street investment. and tech earnings front, wall street bracing for after the bell results of ibm. jim, i'm wondering how much of a read-through you see considering the ibm's revenues are in services? >> it's not intel and not be any of the hardware companies. i take contrary approach. i thought that stacy -- the cfo and presented a much better than expected intel quarter. supposed to be a very big product transition to play havoc. obviously talking about the macro, different not to when coca-cola talks about the macro. talking about a better fourth quarter. they have the new chips. they're supported by yield. they did return a lot of capital. they did make $5 billion in cash. ibm on the other hand, new ceo. worried they can't measure up with sap, a better comp and blew away the numbers and ibm i'm more tender hoo
the world's largest chip maker citing a challenging environment. the forecast reflecting weaker sales and growing popularity of tablets and other devices that don't use intel chips and reporting second quarter revenues slightly below wall street investment. and tech earnings front, wall street bracing for after the bell results of ibm. jim, i'm wondering how much of a read-through you see considering the ibm's revenues are in services? >> it's not intel and not be any of the hardware...
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Sep 12, 2012
09/12
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or 12-month leads, that suggests we're right in the period where we should see the most challenging environment and then it gets better. unless we go off a fiscal cliff, or some middle east tension -- like the news overnight hasn't been favorable to. >> looking for managers to play catch up to put a floor in, is that part of your thesis until year end? >> it is. our target is 1425 so at the time we put it out a year ago people thought we were aggressive. now i'm getting questions are, wait a minute, we're above this, shouldn't you raise your numbers? we have a very disciplined approach to the way we move our numbers. i don't move them up or down because the market's up or down for two months. i don't think that's insightful. you're chasing your tail at that point. >> we'll see, we'll see many times before the end of 2013. >> you'll have plenty of opportunity to hit me if i'm wrong. >> if you're wrong. we might even say nice thing if you're right. >> let's get breaking news at crude. >> u.s. oil prices now selling off. we saw a sharp selloff initially when the number came out, an increase in u.s
or 12-month leads, that suggests we're right in the period where we should see the most challenging environment and then it gets better. unless we go off a fiscal cliff, or some middle east tension -- like the news overnight hasn't been favorable to. >> looking for managers to play catch up to put a floor in, is that part of your thesis until year end? >> it is. our target is 1425 so at the time we put it out a year ago people thought we were aggressive. now i'm getting questions...
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Dec 14, 2012
12/12
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these are two cool cats negotiating in a tough environment. unless you really know what they want, you have no way of predicting which two outcomes is more likely. >> we're joined this morning also by a former labor secretary robert risch, he joins us on the phone. we might have had camera issues, but mr. secretary, good to have you with us this morning as well. good morning. >> good morning. i wish i could be with you visually. but we have to settle for voice only. >> better this than nothing at all. given what j.d. just said over the next couple of weeks, did the chances of a deal really take a hit in the last day or two? >> i'm still optimistic. >> why? >> i think that the chances are still better than 50/50. every time we've had any kind of deal, in fact, every time the two sides have been very close on almost everything, it's come down to the 59th minute of the 11th hour. i think it will happen tuesday. if it happens at all, it will happen tuesday. >> do you believe that come new year's eve, treasury smooths this out by withholding tax ra
these are two cool cats negotiating in a tough environment. unless you really know what they want, you have no way of predicting which two outcomes is more likely. >> we're joined this morning also by a former labor secretary robert risch, he joins us on the phone. we might have had camera issues, but mr. secretary, good to have you with us this morning as well. good morning. >> good morning. i wish i could be with you visually. but we have to settle for voice only. >> better...
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Oct 30, 2012
10/12
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harrowing to hear him talk about 80 homes being lost to fire, describes it as almost a forest fire-like environment given the winds last night. so we'll talk more about that, and if he brings any more headlines we'll get them straight to you. >> you know, one thing, i think 9/11, there's no -- there's no good news about 9/11 obviously when it happened, but it seems to have brought these first responders together in a way, the coordination bond seems amazing to me, amazing. >> some of the early calls, getting the subway trains off the tracks, as the mayor said, in retrospect looks pretty smart. >> what a plan. >> let's get to lower manhattan, experiencing some record flooding yesterday. our scott cohn is live in battery park city. scott, what's the scene this morning? >> reporter: yeah, and i will second that, carl, what jim just said about how this city was prepared for it, and we talked last night how about in a lot of ways the city seemed fragile, but, you know, the evacuation zones that went into place and irene was the first time that they started to use them and then now sandy, and -- and the
harrowing to hear him talk about 80 homes being lost to fire, describes it as almost a forest fire-like environment given the winds last night. so we'll talk more about that, and if he brings any more headlines we'll get them straight to you. >> you know, one thing, i think 9/11, there's no -- there's no good news about 9/11 obviously when it happened, but it seems to have brought these first responders together in a way, the coordination bond seems amazing to me, amazing. >> some...
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May 24, 2012
05/12
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and the aftermath of that is a very non-volatile but well bid interest rate environment for many of the high quality sovereigns like the u.s. today we'll have the last of the options. even though the five year wasn't as solid as the two year was, we saw the results were fairly good. one of the comments in europe that's getting particular attention on the floor is if greece falls out of the european union, it will be messy. what hasn't been thus far? back to you. >> thanks, guys. you were chattering about the swiss. we mentioned it y erl. >> trying to get a sense on the move in the swiss franc. we don't know yet. there's a lot of speculation in the market. >> i know people at home are probably thinking wait a minute. swiss, euro what is going on? we would be down substantially today if europe were down today. so the big puzzle here is what is going on behind the scenes that makes us more bullish about europe and europe more bullish about europe. we're the last to know what happens. drives me crazy. >> yesterday biggest reversal since october 4th. you've been saying use the rallies to lig
and the aftermath of that is a very non-volatile but well bid interest rate environment for many of the high quality sovereigns like the u.s. today we'll have the last of the options. even though the five year wasn't as solid as the two year was, we saw the results were fairly good. one of the comments in europe that's getting particular attention on the floor is if greece falls out of the european union, it will be messy. what hasn't been thus far? back to you. >> thanks, guys. you were...
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Dec 12, 2012
12/12
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i think the key question is going to be is that sustainable in an environment that's very promotional and with a competitor, sam's, that is starting to pivot toward more price reinvestment. >> your skepticism echos what the journal had this morning. great business, smart model, great balance sheet management, but at $98 here, it's hard to move the stock s that your thesis? >> it is. the stock is certainly richly valued. we also think that costco is largely a membership fee model. the company increased the membership fee about a year ago. you're now seeing decelerated growth for membership fees. it was a nice part of the thesis. that's kind of in the rear view mirror. the stock looks expensive. not a lot of margin opportunity in the model. it's a good growth opportunity. a phenomenal business. really fully valued here. >> finally, colin, the special dividend took a lot of people by surprise. do you think that marks a shift in the behavior of balance sheet management at the company? >> the company is extremely underleveraged, i.e. overcapitalized. they have excess cash. i think they lik
i think the key question is going to be is that sustainable in an environment that's very promotional and with a competitor, sam's, that is starting to pivot toward more price reinvestment. >> your skepticism echos what the journal had this morning. great business, smart model, great balance sheet management, but at $98 here, it's hard to move the stock s that your thesis? >> it is. the stock is certainly richly valued. we also think that costco is largely a membership fee model....
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Oct 29, 2012
10/12
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it's a different environment for this storm to hit and the needs will be different. people will find it very difficult to get around. it's not going to last just in and out in a day. this may last for several days. >> i actually live on west side highway outside of zone a so the type of thing that you're talking about is important for my community in manhattan and given that we now have stronger winds, given that you're now talking about potentially a 15-foot surge in water, that would seem to suggest that michael bloomberg just evacuating zone a for manhattan is insufficient. if the situation had changed, can the mayor evacuate greater proportion of the city or is he now locked into what he originally said. hundreds of thousands of people find they should have been evacuated but have not been in manhattan. >> any time anyone issues a mandatory or even a recommended evacuation, you should pay heed to it and do it. i'll give you an kpaexample. a friend worked for one of your competitors and said the front side of her building is evacuation a. the back side is not. wha
it's a different environment for this storm to hit and the needs will be different. people will find it very difficult to get around. it's not going to last just in and out in a day. this may last for several days. >> i actually live on west side highway outside of zone a so the type of thing that you're talking about is important for my community in manhattan and given that we now have stronger winds, given that you're now talking about potentially a 15-foot surge in water, that would...
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Nov 23, 2012
11/12
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prices and home rental rates, you see a very sharp narrowing in that spread and the low interest rate environment is keeping them optimistic. we have turned the corner on housing. will it be strong enough to push it to a higher growth percentage and that's whether or not there is employment that takes place and as i said with the economy functioning and where corporations are cutting back you won't see that boost to the economy going into the spring season. >> we heard earlier this week from fed chief bernanke who said to washington it's your problem. figure out how to fix it. don't look at us to help. what is your anticipation? we have a fed meeting coming up soon. twist is going to be gone soon. what can or will the fed do given this uncertainty? >> absolutely. this is really a big headache for the fed because when they had their meeting on the 12th of december, they won't know if we're going over the cliff or not and the uncertainty is unemployment rate at 7.8. for such a significant impact potentially on the economy that this is just a huge very difficult thing to deal with so that's why it b
prices and home rental rates, you see a very sharp narrowing in that spread and the low interest rate environment is keeping them optimistic. we have turned the corner on housing. will it be strong enough to push it to a higher growth percentage and that's whether or not there is employment that takes place and as i said with the economy functioning and where corporations are cutting back you won't see that boost to the economy going into the spring season. >> we heard earlier this week...
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Nov 2, 2012
11/12
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it appears they're going to do that, work on this and we'll see how liquidity operates in the new environment. the salvation army helping those in need during hurricane sandy and our thanks to them after all the good work to them. >> restoration hardway isn't the only ipo in the test of the markets post-sandy. we have a natural gas partnership and dkl also pricing light restoration hardware at the top end of its range. so it's a big day here overall. restoration hardware, right behind us. a bird's eye view of what's going on with this. priced at $24 which is the top ebbed of the range, $28 to $30 looks like the range right now. we'll see where this goes as we approach it and the range starts to narrow in and we get a better eye tea. >> there's a big difference from the ipos we've seen. it is being sold by sponsors. it would take a number of years ago and so it is leveraging exercise in terms of money that is raised from the ipo. some of it will go to pay down de debt. those have not been as well received in the market as have some of the others that we've seen. >> over the medium to longer te
it appears they're going to do that, work on this and we'll see how liquidity operates in the new environment. the salvation army helping those in need during hurricane sandy and our thanks to them after all the good work to them. >> restoration hardway isn't the only ipo in the test of the markets post-sandy. we have a natural gas partnership and dkl also pricing light restoration hardware at the top end of its range. so it's a big day here overall. restoration hardware, right behind us....
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Oct 2, 2012
10/12
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technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] try new alka-seltzer plus severe allergy to treat allergy symptoms, plus sinus congestion, and pain. and those w
technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took...
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Dec 24, 2012
12/12
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the argument we were moving from a trading environment, which they had been talking about for ten years, and moving towards a new secular bull market beginning in 2013. that means you take out the old highs. we still believe that, 1615 who take out the old highs. housing getting better, turning after six years after a horrible recession. we're looking at the energy boom in the country. we're looking at the wireless mobility aspects to technology and we're looking at the -- one other phenomenon is the competitiveness. >> does that bring mom and pop home? >> what will bring mom and pop home ultimately is losing a little bit of money in their bond funds. over $1 trillion in bond funds over the last four years. but if you look at survey work, particularly survey of consumer finance by the federal reserve board, you'll see that people still want to buy equities. that's been true for the survey for the last, you know, 10, 12 years, despite what just happened. most people don't understand this, 35 to 39-year-olds is a cohort of the americans who begin to save for retirement. essentially they g
the argument we were moving from a trading environment, which they had been talking about for ten years, and moving towards a new secular bull market beginning in 2013. that means you take out the old highs. we still believe that, 1615 who take out the old highs. housing getting better, turning after six years after a horrible recession. we're looking at the energy boom in the country. we're looking at the wireless mobility aspects to technology and we're looking at the -- one other phenomenon...
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Apr 30, 2012
04/12
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we just need to create a fertile environment for them to put the seeds of capital in to make jobs, jobs, jobs grow. another issue is regulations. regs are a big deal. now, in this country, of course, we'll put that to the side. in europe, whether it's greece, spain, there are so many regulations. you look at germany. and many years ago, they really kind of put things back into the private sector, tore up a lot of regulations, and job growth benefited. they're one of the few countries in the group who's obviously running on all eight cylinders. but when regulations move into the structure reform area, the united states is affected, too, and it's affected by the tax code. you heard that wonderful guest with carl today talking about apple. i found it fascinating. i did a spot on this very board about a month ago, saying why do they yell at exxon when apple makes as much, if not more money? well, they underscores. young people out there, you probably spend more money on apple and your cell phone and the service and tweets and the computers than you do on energy. so, the real issue is let's
we just need to create a fertile environment for them to put the seeds of capital in to make jobs, jobs, jobs grow. another issue is regulations. regs are a big deal. now, in this country, of course, we'll put that to the side. in europe, whether it's greece, spain, there are so many regulations. you look at germany. and many years ago, they really kind of put things back into the private sector, tore up a lot of regulations, and job growth benefited. they're one of the few countries in the...
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Feb 16, 2012
02/12
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we've been worried about a weak capital markets environment for a while. so, i mean, i don't think there's a lot of really new news here. actually, moody's is kind of forecasting they'd be doing this. it sounds as though they're looking in some of the secular trends and regulation and kind of the operations of the markets and say that these companies aren't maybe going to be as strong as they historically had been. >> surprising with surprise. you see it more in terms of them getting their ducks in a row, maybe playing a little bit of catch-up as opposed to trying to get ahead on some new dynamic? >> it's kind of the way it seems. the markets seem to be a bit ahead of this. you know, credit spreads really widened out late last year. they've come in a lot. they went out yesterday, i think, kind of anticipation of this, some of the brokers. they've been coming back in again this morning. i think the market's been thinking about this stuff for a while. the real question, though, is not what are the risks. they have been clearly identified and well known. it's
we've been worried about a weak capital markets environment for a while. so, i mean, i don't think there's a lot of really new news here. actually, moody's is kind of forecasting they'd be doing this. it sounds as though they're looking in some of the secular trends and regulation and kind of the operations of the markets and say that these companies aren't maybe going to be as strong as they historically had been. >> surprising with surprise. you see it more in terms of them getting...
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Nov 5, 2012
11/12
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risk on and risk off investing for more than a few months is difficult in an environment like this where you are constantly dealing with this. >> what made you money is to identify stocks that are not part of the vortex. if we don't want to make you money, if you at home want to be completely baffle and trade every minute, risk on, risk off. i can do that for you. i can trade it for you. i can also bet an 18-1 shot and have that come in and take the over in tonight's eagles game. it's not valuable. it does not help you. >> that would be great if all you had was red light or green light and switched that on and off all day long. >> if you could make money, that would be great. the exercise isn't to make money, i'll play the game. i feel our goal is to try to help people make money. >> to carl's point it is probably going to be one of those weeks or period of weeks where -- >> do nothing and hold your dividend stocks. >> my mother and my sister. >> all morning i heard it's risk on, risk off. why don't we just advocate? why don't we talk about politics. i'll give you my pennsylvania rap and
risk on and risk off investing for more than a few months is difficult in an environment like this where you are constantly dealing with this. >> what made you money is to identify stocks that are not part of the vortex. if we don't want to make you money, if you at home want to be completely baffle and trade every minute, risk on, risk off. i can do that for you. i can trade it for you. i can also bet an 18-1 shot and have that come in and take the over in tonight's eagles game. it's not...
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262
May 1, 2012
05/12
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>> obviously, we're very excited, for example, about pinterest, which is a social environment for people to be able to create pinboards and all kinds of things, including things they might want to buy some day. we think that's a great platform. >> in addition, would you point to any of your investments in terms of the next facebook, a company that could be disruptive across industries? >> i don't think there's ever a next facebook, just like microsoft or ibm, but i think, hopefully, god willing, we have a few companies with really good potential. >> now, andreesen says he does not think we're in another internet bubble, but he says most of the growth he's seeing is happening in the private markets and not in the public ones. he is optimistic, though, that that could change, telling me that he's very positive on the jobs act, making it easier for companies to go public. now, andreesen is overall quite bullish on the american company. he predicts that the production of consumer electronics is going to move back to here in the u.s., which would, of course, be a good thing for the manufactur
>> obviously, we're very excited, for example, about pinterest, which is a social environment for people to be able to create pinboards and all kinds of things, including things they might want to buy some day. we think that's a great platform. >> in addition, would you point to any of your investments in terms of the next facebook, a company that could be disruptive across industries? >> i don't think there's ever a next facebook, just like microsoft or ibm, but i think,...
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247
Dec 11, 2012
12/12
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eye 247
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tighter inventory levels, stable pricing environment, and low interest rates. so collectively, we think these three factors would definitely drive demand verystantially next year. it's been a terrific year for the home builders. we think we're still in the third inning, not the seventh inning. both for fundamentals and the stocks. >> is there a part of the market we'll see the most building? is it the lower end or higher end? take a look at the demographic patterns, household formations depressed since 2007. there's a notion there has to be a catch-up and new households now being formed. if you're to take that piece as going forward, you would think it would be the younger end of the spectrum out there going out there -- >> absolutely. we're comfortable with the thesis that first time home buyers are going back to the market in a very strong way. we see a number of stocks doing really well who cater to that market next year, like lennar, hulte, tull will do well and our big cause of the sandskaps will show strength. arizona, california, nevada and florida. it's
tighter inventory levels, stable pricing environment, and low interest rates. so collectively, we think these three factors would definitely drive demand verystantially next year. it's been a terrific year for the home builders. we think we're still in the third inning, not the seventh inning. both for fundamentals and the stocks. >> is there a part of the market we'll see the most building? is it the lower end or higher end? take a look at the demographic patterns, household formations...